In the News

SAS | To cut nearly 6,000 jobs

Loss-making airline SAS will shed nearly 6,000 staff through cuts and asset sales to secure loans from banks and Nordic governments to help it survive a global downturn and fierce competition.

SAS (SAS.ST), one of the European flag-carriers being squeezed by discount carriers such as Ryanair (RYA.I) and Norwegian (NWC.OL), has not made a full-year profit since 2007. Without the loans, SAS might have to stop flying.

It said 800 jobs would be cut and the sales of regional airline Wideroe and the group’s ground handling unit would reduce staff to around 9,000 in total from 15,000 now.

Announcing its new savings plan on Monday, it said it expected a slight pretax loss again this year.

“This truly is our ‘final call’ if there is to be a SAS in the future,” said SAS chief executive Rickard Gustafson…

via SAS to cut jobs and sell assets in survival plan | Reuters.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: